The incoming Chief Executive Officer will assume leadership of this financially and operationally strong organization during its 58th year of serving its member-owners. The electric industry continues to experience a dramatic transformation resulting from technology innovation and the evolving needs of members in the new energy landscape. As such, Wabash Valley seeks a highly strategic and innovative CEO with a strong member-centric mentality, who will thoughtfully translate complicated cooperative and power industry issues into solvable business solutions. To execute Wabash Valley’s operating plan and to meet the challenges of an ever- changing industry, the incoming CEO will provide comprehensive leadership, strategic vision, operating management, financial accountability, technological savvy and market/regulatory representation for the Alliance. Additionally, s/he will be a well-rounded and experienced executive who will focus on delivering value to the members of this generation and transmission cooperative through strategic technology, rates and operating excellence. Additionally, the CEO will lead and develop the extraordinary staff of Wabash Valley and embrace the seven cooperative principles of America’s electric cooperatives.
The cooperative member-owners of Wabash are proud to contribute to Wabash Valley’s future and share equally in the success of the Alliance. The next CEO will lead with an unprecedented focus on taking the organization to greater performance and success. Located in Indianapolis, Indiana, Wabash Valley Power offers a tremendous opportunity for the right person.
Duties & Key Responsibilities
Reporting to the member-owners and Wabash Board, the incoming CEO will:
Report to the membership and the Board of Directors on the condition of the Alliance specific to financial capacity, regulatory exposure, and legislative influence, while also leading power supply, technology, transmission and operational strategies.
Instill a culture of member centricity and operational excellence within the organization to ensure exceptional execution capability and value creation. Utilize a holistic approach to identify business improvement opportunities, develop solutions, manage initiatives, and identify the resources and various disciplines needed to execute the process
Serve as the chief steward of the company’s operational and financial health with a close eye on the company’s capital investing and cost management strategies.
Lead the Alliance’s Risk Management process and procedures to effectively manage the Alliance enterprise risks.
Communicate risk and opportunity to the Board in a fashion that supports effective decision- making including investment and development, capital, and debt requirements, measuring corporate performance against an operating budget, and serving the best interests of the members.
Lead the strategic planning process of Alliance in close partnership with the Wabash Board. This opportunity requires a proven leader who is an exceptional communicator and an active listener; a hands-on leader who can help drive this vibrant company to its full potential and transform Wabash Valley, so it is well positioned to respond to unforeseen market and regulatory changes.
Lead in the continued development and execution of Alliance’s decarbonization strategy (100% by 2050), which balances members’ needs for reliable and affordable electricity with environmental responsibility.
Plan, develop, and recommend goals, objectives, resources, physical property, policies, programs, capital and maintenance work plans and budgets, which will meet FERC, MISO and all other third party conditions with the goal of improving, system reliability, system security and member power supply provisioning.
Regularly develop fact-based, data-led solutions and proposals to review with the Board accompanied by recommendations for action supported by key business case information, financial models and strategic impacts, risks, and opportunities.
Lead Wabash Valley’s commercial efforts to develop effective G&T strategies including generation portfolio development, development of long-term power purchase agreements (PPA), and the negotiation of major contracts.
Develop and continue to build a dynamic team to execute world class generation, transmission, and on-going operations. Recruit A-players to build a strong bench and succession plan for the future of the Alliance.
Fostering a culture of ethics, integrity and “Safety First” protecting all employees and contractors, as well as the communities WVPA serves.
Direct participation in negotiation dealings with federal, state, and local governments, lending institutions, rating agencies and other agencies and attending and/or testifying at hearings regarding such, as necessary to meet system needs and achieve agreed upon results.
Represent the Alliance as an Industry Expert, Board Member or Committee Member on ACES, NRECA, G&T Managers, NRCO, PSEC, , as the need arises for the benefit of the Alliance and its members.
Oversee Human Resources, Salary Administration and Benefits Programs to assure hiring, retention and release of employees assuring the highest quality performance and expertise from the employee team and other contractual matters such as compliance, grievances, arbitrations, etc., subject to final approval by the Board.
Evaluate the overall performance and results achieved by staff members and administer management and supervisory wage and salary plan.
Execute documents on behalf of the Alliance, as delegated by the Board of Directors, and all other documents, correspondence, etc., as required of the President and CEO.
Qualities the next CEO should possess:
Impeccable integrity and transparency in dealings with the Board, members, staff, and all constituents of the cooperative.
Strong professional presence with experience serving as a leader of talented senior teams, conveying trust, rapport, and connection with teams while leading an organization in the face of significant change. Prior CEO experience is a strong plus.
Extensive experience in successfully developing strong working relationships with a diverse Board of Directors and Membership. Deep and reputable performance and referencing available.
Polished and effective communication skills – be the one who can influence and partner effectively with the Board, senior managers, members, and all other 3rd parties.
A track record of effectively leading and managing a utility/cooperative with a wide variety of accomplishments across the entirety of the business including finance, member relations, E&O, succession and development, etc. Naturally adapts to a highly dynamic and versatile role (the wearing of many hats), S/he is also equally adept at building a strategic platform for company and member growth opportunities as well as actively and thoughtfully managing and mitigating risk appropriately.
An innovative mindset – be a hands-on leader who thinks like an owner of the business. Has an unending passion to serve and effectively levers and employs a fact-based decision-making process supportable by data and sound decision methodology including senior team feedback.
Deep experience identifying, hiring, building, and developing high performance executive leaders who consistently prove to be c-level capable. S/he will also have experience building effective succession planning processes with deliberate talent development and management strategies.
Proven leadership in organizational finance and in leading organizations with financial metrics and detailed understanding of the key financial leverage opportunities as well as financial risk strategies. S/ he will ideally have extensive and diversified knowledge of FERC, GAAP, and other regulated finance and accounting policies related to electric cooperative operations.
Meaningful relationships with regulatory, legislative, and environmental parties as well as other cooperative executives. S/he will have a long track record of success in the industry with very tangible and actionable contacts that can assist the Alliance in advancing the agenda of the Association and its S/he will be able to influence at multiple levels.
Operational G&T experience that includes vertically integrated utility processes, project leadership, and Knowledge translates extremely well to project finance and other key planning functions.
Experience with G&T technology including systems integration and G&T emerging technologies. Knowledge translates extremely well to operations, finance, and other key functions.
A vision that is innovative, strategic, and practical to help drive the cooperative into a future facing unprecedented change.
Extensive change management and organizational transformation experience including leading people and process change throughout a business.
A high level of commitment to organizational success and the capacity to provide creative ideas and problem-solving skills that offer credible business solutions.
Be gifted at identifying and recruiting talent through deep experience building and developing high performing executive leaders.
Create a highly focused and detailed succession planning, executive development, and mentoring plan allowing for the growth and continuity of the cooperative in the short and long term.
Have strong finance and capital management skills within a cooperative and experience with borrowing, budgeting, planning, and forecasting. Also have experience building and fostering strong relationships with lenders to create a strong portfolio of financial options for the cooperative.
Be able to demonstrate a deep understanding of the complex cooperative business model and the strategic opportunities that exist.
Bring experience with G&T operations including energy resource diversification, power supply contract negotiation, plant operations, project management, and vertically integrated processes.
Offer a strong working knowledge of a variety of emerging technologies in the energy industry including renewables, battery storage, distributed generation, etc.
Possess deep experience with distribution technology, including systems integration and emerging technology solutions.
Bachelor’s Degree in related field (Business / Engineering / Finance) is required. Graduate degree strongly preferred
The deadline for submitting resumes is January 14, 2022.
Headquartered in Indianapolis, Indiana, Wabash Valley Power is a not-for-profit electric cooperative and wholesale provider of reliable, affordable electricity to our 23 electric distribution member cooperatives. These cooperatives in turn serve more than 300,000 homes, businesses, and farms in Indiana, Illinois, and Missouri.
As a not-for-profit co-op, we do things a bit differently—and that’s the point. Because we aren’t influenced by shareholders, we make our decisions with our members in mind. That means we value things like teamwork, and putting families first. It also means a business model that’s designed for stability and growth. It’s a Deliberately Different approach to the energy industry, and that’s great news for the people who count on us.
We believe what benefits our employees benefits our company. That’s why we put employees first—your health, your family, and your development. These aren’t just slogans: We offer continuing education, flex time, health benefits, a 401(k) match and pension plan, and much more. Here are just a few of the things that make our company culture unique:
• No Sweat - We offer a wellness program that includes a payroll cr...edit for medical insurance, an on-site fitness center for your convenience and extra vacation days for participating. We’ll even throw in a fitness device reimbursement to keep you on track!
• Flex Time - Our flexible schedule means you can work in your appointments or family events and maintain a comfortable work-life balance.
• Stay in School - We value employees who have a desire to learn, so we provide funds for continuing education. We also offer in-house training and ongoing development through our internal GROW program.
• Keep it Casual - When you work for us, you work in comfort. Blue jeans are the norm in our office and we make them look good!
• Work Hard, Play Hard - We reward our employees with generous vacation time, to the tune of up to five weeks off a year. Even our new employees receive credit for prior work experience.